LONDON, Aug 27- The spot iron ore market is sinking under the weight of new supply. The benchmark price for 62 percent iron ore as assessed by the Steel Index has just fallen below the $89 per tonne level for the first time since September 2012.» Read More
Diego Hernandez, CEO of Antofagasta, says he is "cautious" on the short-term copper price, but optimistic on the longer term prospect.
SINGAPORE, Aug 26- Gold was barely changed on Tuesday and held near its weakest level in two months as a firmer U.S. dollar and rallies in equities undermined the metal's appeal as an alternative investment. *Spot gold was little changed at $1,277.40 an ounce by 0032 GMT, within sight of a two-month low of $1,273.06 hit on Aug. 21.
Hecla Mining Co. fell$. 06 or 1.9 percent, to $3.16. Pan American Silver Corp. fell$. 33 or 2.3 percent, to $13.76. Silver Standard Resources Inc. fell$. 30 or 3.3 percent, to $8.79.
Barrick Gold Corp. fell$. 23 or 1.3 percent, to $18.01. Gold Fields unchanged at $4.25. Newmont Mining Corp. fell$. 41 or 1.6 percent, to $25.98.
Arch Coal fell$. 02 or. 6 percent, to $3.13. Consol Energy Inc. fell$. 79 or 2.0 percent, to $39.39. Peabody Energy fell$. 38 or 2.4 percent, to $15.73.
JOHANNESBURG/ LONDON, Aug 25- The chief executive of platinum producer Lonmin denied assertions from mining industry sources on Monday that the company aimed to cut around 5,700 jobs as part of a drive to restore profits after a five-month strike.
Hecla Mining Co. fell$. 02 or. 6 percent, to $3.20. Pan American Silver Corp. fell$. 13 or. 9 percent, to $13.96. Silver Standard Resources Inc. fell$. 12 or 1.3 percent, to $8.97.
Arch Coal rose$. 03 or 1.0 percent, to $3.18. Consol Energy Inc. fell$. 16 or. 4 percent, to $40.02. Peabody Energy fell$. 10 or. 6 percent, to $16.01.
NEW YORK— Shares of some top gold companies are down at 10 a.m.:. Barrick Gold Corp. fell$. 13 or. 7 percent, to $18.11. Newmont Mining Corp. fell$. 31 or 1.2 percent, to $26.08.
LAUNCESTON, Australia, Aug 25- Something doesn't quite add up with China's rising steel production, but falling coal output and imports so far this year. China's raw steel output was 480.76 million tonnes in the first seven months of 2014, up 2.7 percent from the same period a year earlier, according to data from the National Bureau of Statistics.
SYDNEY, Aug 25- Shanghai copper hit its highest in around seven weeks on Monday, underpinned by steady consumer demand as the slow summer season fades, while London markets were shut for a bank holiday. *The most-traded October copper contract on the Shanghai Futures Exchange edged up 0.3 percent to 50,710 yuan a tonne.
As negotiations to resolve a bitter dispute teetered on the brink of collapse, Freeport-McMoRan chairman James "Jim Bob" Moffett flew to Jakarta for last-ditch talks.
KETCHIKAN, Alaska— A Canadian company is moving forward with plans for a new rare-earth metals mine at the end of Kendrick Bay on Prince of Wales Island, sending a team to drill and spending millions sampling rock and studying the area.
Indonesia's chief economics minister, Chairul Tanjung, said he had got to a point where he felt only talking directly to the 76- year-old U.S. mining legend might break a deadlock in the six-month row, which had already cost Southeast Asia's top economy more than $1 billion and put thousands of jobs at risk.
BERLIN— Several thousand people have formed a human chain across the German-Polish border to protest the expansion of open-cast mining for brown coal in the region.
Arch Coal fell$. 05 or 1.6 percent, to $3.15. Consol Energy Inc. rose$. 26 or. 7 percent, to $40.18. Peabody Energy fell$. 21 or 1.3 percent, to $16.11.
Hecla Mining Co. fell$. 04 or 1.2 percent, to $3.22. Pan American Silver Corp. rose$. 06 or. 4 percent, to $14.09. Silver Wheaton rose$. 06 or. 2 percent, to $24.90.
WASHINGTON, Aug 22- The United States has approved anti-dumping duties against South Korea and other producers of steel pipes for the energy sector, a victory for domestic producers hoping to benefit from a boom in the U.S. shale oil and gas industry.
Hecla Mining Co. fell$. 03 or. 9 percent, to $3.23. Pan American Silver Corp. rose$. 04 or. 3 percent, to $14.07. Silver Wheaton fell$. 01 or percent, to $24.83.
Arch Coal rose$. 01 or. 5 percent, to $3.21. Consol Energy Inc. rose$. 32 or. 8 percent, to $40.24. Peabody Energy fell$. 10 or. 6 percent, to $16.22.